Neustadt v. Pearce

On December 30, 1932, William H. Edwards owned, in Sherman, a large tract of land which he had developed for residential purposes and portions of which he had sold for building lots. On that date he conveyed 1.3 acres of the tract to Camille DeBarbac, and the deed was duly recorded. The deed contained the following covenant: “The grantor shall also have the right and privilege to repurchase the above described premises in the event that the grantee desires to sell the same, at a price which the grantee shall have been offered for a sale and conveyance of the same premises. The conditions…